So we can be proud of our $18 TRILLION debt, since we are among the “safest”. (sarc) But in fact we are fast approaching the point where we won’t be able to service that debt.
The bonds of Venezuela, Ukraine, Greece, and Pakistan are virtually worthless.
The next 4? Egypt, Cyprus, Russia, and Brazil? Good luck collecting on those.
Jap government bonds are safe? They must be, the Bank of Japan is buying them hand over fist. China? If you hold yuan denominated bonds, you just lost 5%.